Long Term Incentive Plan

RNS Number : 0737I

Amino Technologies PLC

25 August 2016

 

25 August 2016

AMINO TECHNOLOGIES PLC

("Amino", the "Company" or the "Group")

Long Term Incentive Plan

Amino Technologies plc (LSE: AMO), the Cambridge-based provider of digital entertainment solutions for IPTV, Internet TV and in-home multimedia distribution, announces the allotment of B Shares of 0.1 pence in Amino Holdings Limited (a subsidiary of the Group) ("B Shares") under the Employee Shareholder Status ("ESS") rules to a number of key senior management (the "Participants") under the new Long Term Incentive Plan (the "LTIP") on 24 August 2016. The arrangements are intended to align the Participants' interests with shareholders and the Company's strategic plan.

The B Shares give the holders the right to share in the value of the Group once the price of an Ordinary Share in the Company exceeds 161 pence per Ordinary Share and certain earnings per share criteria have been met over the next two financial years. In addition the Participants must each remain employed until the end of the vesting period (1 September 2019 for the award to the CFO, signing of the audited FY18 Group accounts for other Participants).

To the extent that the B Shares vest, Participants will have 7 years from the end of the vesting period to "put" the shares to the Group in return for cash or, at the option of the Group, the issue of Ordinary Shares in the Company with an equivalent value. The Group also has the option to "call" for the B Shares at any time the price of an Ordinary Share exceeds 220 pence per Ordinary Share.

Under the LTIP, the maximum potential value of all awards of B Shares (including future grants) is capped at 4 per cent of the market capitalisation of the Group (measured at the point of crystallisation of B Shares into cash or Ordinary Shares in the Company). At 220 pence per Ordinary Share the potential value of all awards of B Shares would be 2.2 percent of the market capitalisation of the Group.

The following LTIP awards were made on 24 August 2016. Participants were allotted these shares under the ESS rules, and so had immediate PAYE and NIC charges on the taxable value of the B Shares.

Name	Position	Number of B Shares awarded
Donald McGarva	CEO	43,224
Mark Carlisle	CFO	25,934
Other Participants	-	35,443

For further information please contact:

Amino Technologies PLC	[phone]
Donald McGarva, Chief Executive Officer
Mark Carlisle, Chief Financial Officer
finnCap Ltd (NOMAD and Joint Broker)	[phone]
Matt Goode / Carl Holmes /Simon Hicks (Corporate Finance) Simon Johnson (Corporate Broking)
Canaccord Genuity Limited (Joint Broker and Financial Adviser)	[phone]
Simon Bridges / James Craven / Emma Gabriel
FTI Consulting LLP (Financial PR)	[phone]
Chris Lane / Alex Le May / Darius Alexander

Notification and public disclosure of transactions by persons discharging managerial responsibilities and persons closely associated with them

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Donald McGarva
2.	Reason for the Notification
a)	Position/status	CEO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Amino Technologies PLC
b)	LEI	n/a
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	B shares of 0.1 pence in Amino Holdings Limited ("B Shares")
	Identification code	n/a
b)	Nature of the transaction	Issue of B Shares under Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) n/a 43,224
d)	Aggregated information: ·      Aggregated volume ·      Price	Issue of 43,224 B Shares
e)	Date of the transaction	24 August 2016
f)	Place of the transaction	Outside a trading venue

1.	Details of the person discharging managerial responsibilities / person closely associated
a)	Name	Mark Carlisle
2.	Reason for the Notification
a)	Position/status	CFO
b)	Initial notification/Amendment	Initial notification
3.	Details of the issuer, emission allowance market participant, auction platform, auctioneer or auction monitor
a)	Name	Amino Technologies PLC
b)	LEI	n/a
4.	Details of the transaction(s): section to be repeated for (i) each type of instrument; (ii) each type of transaction; (iii) each date; and (iv) each place where transactions have been conducted
a)	Description of the Financial instrument, type of instrument	B shares of 0.1 pence in Amino Holdings Limited ("B Shares")
	Identification code	n/a
b)	Nature of the transaction	Issue of B Shares under Long Term Incentive Plan
c)	Price(s) and volume(s)	Price(s) Volume(s) n/a 25,394
d)	Aggregated information: ·      Aggregated volume ·      Price	Issue of 25,394 B Shares
e)	Date of the transaction	24 August 2016
f)	Place of the transaction	Outside a trading venue

 

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